Citadel 4th quarter order increase by $4.3 million, but 2005 revenue to be below estimates

Dallas, Texas-based Citadel Security Software (Nasdaq: CDSS), a company offering enterprise vulnerability management and policy compliance solutions, announced it has received approximately $3 million in new orders since it announced third quarter results on 8 November 2005. The new orders increase the company’s order value for the fourth quarter to approximately $4.3 million. The company announced on 8 November that it expected 2005 revenue in the range of $12 million to $14 million. Since most of the orders announced Monday were completed at the end of the fourth quarter and are more ratable over future periods than previously anticipated, and since other prospective orders were not finalized by the end of the quarter, Citadel expects that 2005 revenue will be below the level estimated in its previous business update. The company will report its fourth quarter and year-end results in late February.

-read more in company news release